by Jeremy Webster | Feb 16, 2023 | Recent News - Tom Miller
Economic theory predicts that a binding interest-rate cap decreases credit availability for high-risk borrowers. On March 23, 2021, Illinois imposed an all-in interest-rate cap of 36 percent per annum for loans under $40,000 from non-bank and non-credit-union lenders....
by Jeremy Webster | Feb 16, 2023 | Recent News - Tom Miller
Using data for the last quarter of 2020 and first three quarters of 2021, the study examined the effects of the 36% rate cap imposed by the Illinois Predatory Loan Prevention Act which became effective in March 2021. The study found that the cap significantly...
by Jeremy Webster | Dec 15, 2021 | News, Updates
Arizona Attorney General Mark Brnovich’s Office (AGO) will receive the Consumers’ Research Consumers’ Champion Award for the first-in-the-nation settlement with Ticketmaster. Arizona’s fight for consumers returned more than $71 million in...
by Jeremy Webster | May 6, 2021 | Press Releases, Recent News - Will Hild, Updates
Attorney General Steve Marshall has received an award from the nation’s oldest consumer protection organization for the Alabama Attorney General’s Office’s recent historic $60 million consumer settlement against Terminix. The “Consumer Champion” award was presented...
by Jeremy Webster | May 14, 2019 | Mercatus Center Publications
We appreciate the opportunity to respond to the Bureau of Consumer Financial Protection’s (Bureau) proposed rule governing payday, vehicle-title, and certain high-cost installment loans. The Mercatus Center at George Mason University is dedicated to bridging the gap...
